Ukraine received a $ 350 million loan from the World Bank

The decision to provide a loan of $ 350 was made on June 26. This is the first loan aimed at economic recovery and reform.

According to the terms of the loan, they should be sent to:

  • Support of credit and development of land markets through increasing the efficiency of the agricultural land market and servicing loans in state banks;
  • Strengthening the processes of demonopolization and development of anti-corruption institutions, as well as the review of the credit burden in the gas sector;
  • Establishing social protection for the elderly at risk of Covid-19.

As part of this assistance, a second loan is expected to support the development of legislation needed for land reform and increased pension benefits for people at high risk Covid-19.